The global airline industry likely will rebound to a $2.5 billion profit this year — a dramatic swing from the $2.8 billion loss projected just three months ago, according to the International Air Transport Association (IATA). The upgrade is the result of a recent strengthening of demand, which was enough to more than offset the negative effect of the ash-related cancellations. Airlines in the North America and Asia-Pacific regions account for most of the improvement, although European ...

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